In California, Monarch Energy said it has formed a partnership with LS Power to deploy a portfolio of green hydrogen projects throughout the United States.
LS Power plans to invest up to $400 million into projects developed by Monarch as part of the newly established Clean Hydrogen Fuels, LLC platform.
LS Power provided $25 million in preferred equity financing for Monarch Energy and will hold a seat on Monarch’s Board of Directors. This investment will be used to advance Monarch’s pipeline of projects, expand to new regions within the US, and continue to add top talent to the Monarch team, the company said.
“Executing one of the largest pipelines of green hydrogen projects in the US requires access to deep pools of capital, diverse skillsets, and a commitment to innovation. LS Power consistently operates at the vanguard of new technologies and exemplifies a brand known for building complex projects at industry-leading scale. Together, we unlock the potential to achieve great outcomes in hydrogen and eFuels for our customers,” said Monarch Energy CEO, Ben Alingh.
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